Report: Upstate chip plant to receive $10 billion boost

An upstate semiconductor facility is in line for a $10 billion investment from a state-controlled company in Abu Dhabi, according to a report.

Reuters reported Friday that the Advanced Technology Investment Company, which is operated by Abu Dhabi-run investment fund Mubadala, will put $10 billion over the next two years into the GlobalFoundries semiconductor plant in Malta, Saratoga County. GlobalFoundries is owned by the ATIC.

“We have received commitments from Mubadala for an additional $9-10 billion for expansion of our facility in New York,” ATIC Chief Executive Ibrahim Ajami said, according to Reuters.

An expansion of the GlobalFoundries chip fab had been hinted at by company officials since last January. The state granted well over $1 billion in cash and incentives over the years to lure the company to its 223-acre site north of Albany.

The plant, which currently produces 300mm wafers, would be expanded to produce 20- and 40-nanometer nodes, according to Reuters.